Camden Property Trust Closes $500 Million 5.850% Senior Unsecured Note Offering
04 11월 2023 - 5:15AM
Business Wire
Camden Property Trust (NYSE:CPT) today announced it has closed
the offering of $500 million senior unsecured notes due 2026. These
three-year notes were issued at 99.997% of par value with a coupon
of 5.850%. After giving effect to deducting the underwriting
discounts and other expenses of the offering, the effective
interest rate on the notes is 6.08% per annum. In connection with
the offering of the notes, Camden initiated a forward interest rate
swap agreement with an aggregate notional amount of $500 million.
Under the interest rate swap agreement, the Company receives a
fixed rate of 5.85% and pays a floating interest rate of daily
compounded SOFR plus 1.12%.
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates,
and projections about the industry and markets in which Camden
operates, management's beliefs, and assumptions made by management.
Forward-looking statements are not guarantees of future performance
and involve certain risks and uncertainties which are difficult to
predict. Factors which may cause Camden’s actual results or
performance to differ materially from those contemplated by
forward-looking statements are described under the heading “Risk
Factors” in Camden’s Annual Report on Form 10-K and in other
filings with the SEC. Forward-looking statements made in today’s
press release represent management’s current opinions at the time
of this publication, and Camden assumes no obligation to update or
supplement these statements because of subsequent events.
Camden Property Trust, an S&P 500 Company, is a real estate
company primarily engaged in the ownership, management,
development, redevelopment, acquisition, and construction of
multifamily apartment communities. Camden owns and operates 172
properties containing 58,961 apartment homes across the United
States. Upon completion of 5 properties currently under
development, the Company’s portfolio will increase to 60,514
apartment homes in 177 properties. Camden has been recognized as
one of the 100 Best Companies to Work For® by FORTUNE magazine for
16 consecutive years, most recently ranking #33. For additional
information, please contact Camden’s Investor Relations Department
at (713) 354-2787 or accessing our website at camdenliving.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231103087393/en/
Kim Callahan, 713-354-2549
Camden Property (NYSE:CPT)
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